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GULF STATES UTILITIES CO. COMPLETES NEGOTIATIONS OF BONDS FOR PUBLIC OFFERING

 GULF STATES UTILITIES CO. COMPLETES
 NEGOTIATIONS OF BONDS FOR PUBLIC OFFERING
 BEAUMONT, Texas, Aug. 20 /PRNewswire/ -- Gulf States Utilities Co.(NYSE: GSU) has completed negotiations for the public offering of nearly $48.3 million in pollution control revenue refunding bonds of the Industrial Development Board of Calcasieu Parish.
 The bonds, which mature Oct. 1, 2012, will bear a 6.75 percent interest rate, effective Aug. 1, 1992. The proceeds will be used to refund a similar amount of bonds issued by the board in 1982 to help finance pollution control facilities at Nelson Unit 6, a 550-megawatt coal-fired power plant. GSU owns 70 percent--about 385 megawatts--of the Westlake, La., facility.
 Refunding the 1982 bonds, which carry a 10.375 percent interest rate, will save Gulf States more than $1.7 million per year in interest costs, a company official estimated.
 Offering the bonds are Kidder, Peabody & Co. Inc.; The First Boston Corp.; and Goldman, Sachs & Co.
 GSU is a Beaumont, Texas-based utility serving more than 583,000 customers along the Gulf Coast between New Orleans and Houston.
 -0- 8/20/92
 /CONTACT: Susan H. Gilley of Gulf States Utilities Company, 409-839-2846/
 (GSU) CO: Gulf States Utilities Co. ST: Texas IN: UTI SU: OFR


DC -- NY042 -- 1688 08/20/92 11:54 EDT
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Publication:PR Newswire
Date:Aug 20, 1992
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